|Basis of Allotment|
Not for release in the United States. This is an advertisement for information purposes only. This is not a Prospectus announcement, and dose not constitute an invitation or offer to acquire, purchase or subscribe for securities. Not for publication or distribulion,.directly or indirectly outside India. All capitalized terms used herein and not specifically defined shall have the same meaning as ascribed to them in the Prospectus.
ORTEL COMMUNICATIONS LIMITED
Ortel Communications Limited (the "Company") was incorporated under the Companies Act, 1956 as "Ortel Communications Limited", a public limited company pursuant to a certificate of incorporation dated June 2,1995 issued by the Registrar or Companies, National Capital Territory of Delhi and Haryana ("RoC") and received the certificate for commencement of business on July 19.1995.
Registered Office: B-7/122A, Safdarjang Enclave, New
Dethi - 110 029, India; Telephone: +91 11 4686 8800: Facsimile: +91 11 4686
880,. For further details in relation to change in our Registered Office, see the section
tilled "History and Corporate Structure" on page 162 of the Prospectus dated
March 11,2015 ("Prospectus"). Corporate Office:
C-1, Chandrasekharpur, Near BDA Colony, Behind RMRC. Bhubaneswar - 751 016, Odiasa, India.
Telephone: +91 674 3983 200/2303 464/3911 200; Facsimile
+91 674 2303 448. Contact Person and Compliance Officer:
Mr Lalit Kumar Mohanty; Telephone: +91 674 3911 358: Facsimile:
+91 674 2303 448. Email: firstname.lastname@example.org:
BASIS OF ALLOTMENT
PUBLIC ISSUE OF 9,652,500 *EQUITY SHARES OF FACE VALUE OF RS.10 EACH ("EQUITY SHARES") OF ORTEL COMMUNICATIONS LIMITED (THE "COMPANY" OR THE "ISSUER") FOR CASH AT A PRICE OF RS.181 PER EQUITY SHARE INCLUDING A SHARE PREMIUM OF RS.171 PER EQUITY SHARE, AGGREGATING UPTO Rs.1,747.10 MILLION ("THE ISSUE").
*As per Prospectus dated March 11, 2015, Based on finalization of Basis- of Allotment, the final Issue Size aggregated to 9,593,850 Equity Shares aggregating to Rs. 1,736.49 million, consisting of a Fresh Issue to the public of 6,000,000 Equity Shares aggregating upto Rs.1,086.00 million and an Offer For Sale of 3,593,850 Equity Shares by the Selling Shareholder aggregating to Rs. 650.49 million.
ISSUE PRICE: RS. 181 PER EQUITY SHARE OF FACE VALUE OF RS. 10
BID/ISSUE: OPENED ON TUESDAY, MARCH 3, 2015
The Anchor Investor Bid/Issue Period was March 2,2015
PROMOTERS OF OUR COMPANY: MR. BAIJAYANT PANDA, MS. JAGI MANGAT PANDA, PANDA INVESTMENTS PRIVATE LIMITED AND UMSL LIMITED
Pursuant to Rule 19(2)(b)(i) of the Securities Contracts Regulation Rules, 1957, as amended ("SCRR") read with Regulation-41 of the SEBI Regulations, the Issue was made for at least 25% of the post-Issue capital. The Issue was made through the Book Building Process in compliance with the provisions of Regulation 26(2) of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations,. 2009, as amended (the "SEBI Regulations"), wherein at least 75% of the Issue (i.e., 75% of 12,000,000 Equity Shares as originally envisaged in the Red Herring Prospectus) was allocated on a proportionate basis to Qualified Institutional Buyers ('QIBs'). Our Company and the Selling Shareholder, in consultation with the Book Running Lead Manager, allocated 28.42% of the QlB Portion to Anchor Investors at the Anchor Investor Allocation Price, on a discretionary basis, out of which at least one-third was available for allocalion to domestic Mutual Funds only.
All investors. other than an Anchor Investor and Retail, were required to participate in this Issue through the Application Supported by Blocked Amount ("ASBA") process by providing the details of their respective bank accounts in which the corresponding Bid Amounts will be blocked by the SCSBs. Allotment amongst other conditions mentioned in the Prospectus, is being undertaken upon receipt of Bids equivalent to at least 25% of the Issue (including Bids received under the Anchor Investor Portion) from Mutual Funds and/or insurance companies registered with IRDA. Specific attention is invrited to the section tilted "issue Procedure" on page 371 of the Prospedus.
The Issue received 3479 applications for 9693075 Eqiriy Shares (prior to technical rejections) resulting in 0.9949 times subscription as disclosed in Prospectus. The details of the applications received in the Issue from Retail Individual Bidders, Non-Institutional Bidders, QIBs excluding Anchor Investors and Anchor Investors are as under (before technical rejections);
* Based On Prospectus
A summary the final demand at different bid prices is as under:
The Basis of Allotment was finalized in consultation with the Designated Stock Exchange, being NSE on March 12,2015.
A. Allocation to Retail Individual Bidders (After Technical Rejections)
The Basis of Allotmem to the Retail Individual Bidders, who have Bid at cut-off or at the Issue Price of Rs 181 per Equity Share, was finalized in consultation with the NSE. This category has been subscribed to the extent of 0.328625 times, The total number of Equity Shares Allotted in Retail Individual Bidders cattegory is 394350 Equity Shares to 3362 successful applicants. The category-wise details of the Basis of Allotmentare are as under.
B. Allocation to Non-Institutional Bidders (After Techmical Rejections)
The Basis of Allotment to the Non-institutional Bidders, who have bid at the Issue Price of rs.181 per Equriy Share or above, was finalized in consultation with the BSE. This category hss been subscribed to the extent of 0.097250 times. The total number of Equity Shares allotted in this category is 175050 Equity Shares to 8 successful applicants. The category-wise details of the Basis of Allotment are as under:
C. Allocation to QIBs (excluding Anchor Investors)
Allotment to QIBs, who have bid the Issue Pnce of rs181 per Equity Share or above, has been done on a proportionate basis in consultation with the NSE. This category has been subscribed to the extent of 1.0036 times of Net QIB portion. As per the SEBI Regulations, Mutual Funds were allotted 5% of the Equriy Shares of Net QlB portion available i.e. 443659 Equity Shares and other QIBs and unsatisfied demand of Mutual Funds were allotted the remaining available Equity Shares i.e. 6023366 Equity Shares on a proportionate basis. The total number of Equity Shares allotted in he QIB category is 54,67,025 Equity Shares, which were allotted to 11 successful Applicants.
D.Allocation to Anchor Investors
The Company and Selling Shareholder have allotted 25,57.425 Equity Shares to 3 Anchor Investors, In consultation with the BRLM. In accordance ih ihe SEBi Regulations, this represents 23.42% of the OIB Portion.
The IPO Commiltee of our Company at its meeting held on Marth 12,2015 has taken On record the basis of allotment of Equity Shares approved by the Designated Stock Exchange, being NSE and has allotted the Equity Shares to various successful applicants. The CAN-cum-Retond Orders and Allotment Advice have been dispatched to the address of the investors as registered with the depositories on March 13.2015 Further, instructions to the SCSBs have been dispatched/mailed on March 12.2015. In case he same is not received within ten days, investors may contact the Registrar to the Issue at the address given below. The Refuse Advices have been over-printed with the bank account details as registered, if any with the depositaries. The Equity Shares allotted to the successful allottees have been uploaded on March 13, 2015 for credit into the respective beneficiary accounts subject to validation of the account details with the depositories concerned. OurCompany is taking steps to get the Equity Shares admitted for trading on the BSE and NSE within 12 working days of the closure of the Issue.
INVESTORS PLEASE NOTE
The details of the allotment made will be hosted on the website of the Registrar to the
Issue. Karvy Computershare Pnvate Limited at http://www.karisma.karvy.com
Karvy Computershare Private Limited
Plot No 17-24, Vittal Rao Nagar. Madhapur. Hyderabad 500 061. Andhra Pradesh, India
TIE LEVEL OF SUBSCRIPTION SHOULD NOT BE TAKEN TO BE INDICATIVE OF EITHER THE MARKET PRICE OF THE EQUITY SHARES ON LISTING OR THE BUSINESS PROSPECTS OF ORTEL COMMUNICATIONS LIMITED